Oil Bubble
Mar 10th, 2008 by gmoran
I pulled up to the pump the other day and I confess that with each whirr of the $’s, I started to think of all the places I wasn’t going to drive to because gas was so high. It’s not that I can’t afford the gas – I just don’t want to. First, the tech bubble, then the real estate bubble, now the oil bubble! Oil has climbed to $107 a barrel with no end in sight all the while oil supply is still building. But at what point will Americans really cut their consumption and push the forces of the free marketplaces to burst the speculation in oil? When gas hit $2 a gallon, we complained but paid. At $2.50, we started to take a harder look at fuel efficient autos – same talk as in 1975. When gas came down then, we forgot all about freeing ourselves from oil slavery and bought the big SUVs. Will $3+ per gallon gas finally result in